China to Block Another 124 Offshore Exchanges

As part of their ongoing crackdown, China will be banning 124 websites operated by offshore cryptocurrency exchanges

Thu, 23/08/2018 - 9:13

China to Block Another 124 Offshore Exchanges

Cover image via U.Today

China is upping its pressure on access to Bitcoin and other cryptocurrencies as it plans to block a further 124 offshore exchanges in its ‘Great Firewall.’ The country has been at the forefront of banning Bitcoin and this latest move is seen as the final step.

This move is part of an intensifying effort to try and stamp out all cryptocurrency use in China as the authorities continue to monitor and shut down domestic websites related to cryptocurrency trades and ICOs, and ban payment services from accepting cryptocurrencies.

However, China continues to expand and grow its interest in Blockchain as both the government and the Central Bank talk up its potential but removed from the notion of decentralized and established cryptocurrencies.

#Cryptocurrency exchange

About the author

Darryn Pollock

Darryn Pollock is an award winning journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach. He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.